SG Americas Securities LLC Buys 16,232 Shares of Orrstown Financial Services Inc (NASDAQ:ORRF)

SG Americas Securities LLC lifted its stake in shares of Orrstown Financial Services Inc (NASDAQ:ORRF - Free Report) by 198.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,399 shares of the bank's stock after acquiring an additional 16,232 shares during the quarter. SG Americas Securities LLC owned approximately 0.13% of Orrstown Financial Services worth $732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. PL Capital Advisors LLC raised its position in shares of Orrstown Financial Services by 3,561.0% during the fourth quarter. PL Capital Advisors LLC now owns 2,356,073 shares of the bank's stock worth $86,256,000 after acquiring an additional 2,291,717 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Orrstown Financial Services by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 1,042,866 shares of the bank's stock worth $38,179,000 after acquiring an additional 61,081 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Orrstown Financial Services by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 833,950 shares of the bank's stock worth $30,531,000 after acquiring an additional 2,872 shares during the last quarter. American Century Companies Inc. raised its position in shares of Orrstown Financial Services by 0.3% during the fourth quarter. American Century Companies Inc. now owns 228,067 shares of the bank's stock worth $8,350,000 after acquiring an additional 755 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Orrstown Financial Services by 6.7% during the fourth quarter. Northern Trust Corp now owns 159,868 shares of the bank's stock worth $5,853,000 after acquiring an additional 10,096 shares during the last quarter. 44.27% of the stock is currently owned by institutional investors.

Orrstown Financial Services Trading Up 0.2%

ORRF stock traded up $0.06 during mid-day trading on Friday, reaching $29.85. The company's stock had a trading volume of 157,353 shares, compared to its average volume of 127,259. The company has a market cap of $582.37 million, a price-to-earnings ratio of 7.83 and a beta of 0.80. The business's 50 day moving average price is $29.68 and its 200 day moving average price is $32.26. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.13. Orrstown Financial Services Inc has a 12 month low of $25.28 and a 12 month high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The bank reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.05. Orrstown Financial Services had a return on equity of 14.35% and a net margin of 9.74%. The firm had revenue of $60.39 million during the quarter, compared to analysts' expectations of $51.83 million. During the same quarter last year, the firm posted $0.88 earnings per share. On average, equities research analysts predict that Orrstown Financial Services Inc will post 4.23 EPS for the current year.

Orrstown Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $1.04 dividend on an annualized basis and a yield of 3.48%. Orrstown Financial Services's dividend payout ratio (DPR) is presently 53.06%.

Insider Buying and Selling at Orrstown Financial Services

In other news, Director Scott V. Fainor acquired 3,000 shares of Orrstown Financial Services stock in a transaction on Monday, March 24th. The stock was purchased at an average price of $31.17 per share, with a total value of $93,510.00. Following the completion of the purchase, the director now owns 13,396 shares of the company's stock, valued at approximately $417,553.32. The trade was a 28.86% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.70% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ORRF shares. Hovde Group raised their price objective on Orrstown Financial Services from $35.00 to $37.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Raymond James Financial assumed coverage on Orrstown Financial Services in a report on Thursday, April 10th. They issued an "outperform" rating and a $35.00 target price for the company. Finally, Keefe, Bruyette & Woods lowered their target price on Orrstown Financial Services from $40.00 to $37.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $36.80.

About Orrstown Financial Services

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.